Saudi Arabia's National Industrialisation Company (Tasnee) on Monday said it swung to a net loss for the second quarter, which the petrochemical producer blamed on lower product sales prices and higher costs as it missed analyst forecasts.
Qalaa Holdings, one of Egypt's largest investment companies, on Sunday reported a third-quarter net loss after minority interests of EGP59.6 million ($8.34 million), a 67 per cent decline on the previous quarter.
Qalaa has som
Bahrain-based Ithmaar Bank managed to cut its net loss last year to $61.9 million compared with $140 million for 2010.
The 2011 results include a consolidated fourth-quarter loss of $68.6 million compared with a loss of $153.4 million for
Damas, a leading retail jeweller in the Middle East, said it made a full-year net loss of Dh1.91 billion ($520 million), after provisions and non-recurring charges of Dh1.9 billion. The company also saw a 31 per cent drop in its revenues.
Aldar Properties, Abu Dhabi's largest developer by market value, missed forecasts with a second-quarter net loss of Dh475.3 million ($129.4 million) hit by lower property sales and investment valuations.
That was far worse than a loss of D
Zain Saudi Arabia made a net loss of SR632 million ($168.5 million) in the second quarter, down 26 per cent from SR857 million a year earlier, its lowest quarterly loss since it started operations two years ago.
The kingdom's newe
Dubai Islamic mortgage lender Amlak, which is set to merge with Tamweel, posted a net loss of Dh177.3 million ($48.2 million) for 2009, compared to a net profit of Dh240.2 million the previous year.
The Islamic mortgage lender ma
Saudi-based Rabigh Refining and Petrochemical Company (PetroRabigh) said on Monday its losses had more than doubled in the second quarter, citing higher costs and lower demand for petrochemical products.
The joint-venture of Saudi Ar